OREANDA-NEWS The authorities of China and the Philippines will resume negotiations on offshore oil and gas production in the near future. This was announced on Thursday by the Chinese Foreign Ministry.

"As for the oil and gas sector, the parties have expressed mutual agreement to restore negotiations on the development of offshore oil and gas fields as soon as possible," the Chinese Foreign Ministry said in a statement published on the website following talks between Chinese President Xi Jinping and Philippine President Ferdinand Marcos Jr. in Beijing.

It clarifies that the Sino-Philippine consultations on these issues will have a positive impact on the well-being of the peoples of the two countries. To advance the negotiations, Beijing and Manila plan to follow the relevant memorandum signed in 2018.

In addition, China and the Philippines, as noted, will increase cooperation on environmentally friendly energy projects. We are talking about both solar and wind, as well as nuclear energy, as well as the production of green vehicles.